TORRANCE, Calif. (AP) _ Motorcar Parts of America Inc. (MPAA) on Monday reported fiscal fourth-quarter net income of $835,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Torrance, California-based company said it had profit of 4 cents. Earnings, adjusted for one-time gains and costs, were 74 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The maker of remanufactured vehicle alternators and starters posted revenue of $168.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $153.3 million.
For the year, the company reported net income of $21.5 million, or $1.11 per share, swinging to a profit in the period. Revenue was reported as $540.8 million.
Motorcar Parts shares have risen 19% since the beginning of the year. The stock has climbed 47% in the last 12 months.
The Associated Press